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Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value
+83.8%
$9.55
vs $5.20 price
Levered DCF
$67.37
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
0.02
Distress zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-1.31×-1.07×91.56×1.52×-26.31×-1.62×-4.61×4.24×
P/B0.51×0.69×0.55×0.64×0.72×0.66×0.67×0.49×
P/S1.46×2.52×6.03×14.87×3.02×4.55×2×1.55×
EV / EBITDA-10.3×-22.83×-221.57×-141.43×29.17×-49.51×21.9×14.32×
Gross margin81.2%41.8%38.5%45.4%129.1%-44.2%97.4%143.9%
Operating margin-40.2%-25.4%-19.4%-66.6%-0.4%-282.1%-36.9%53.9%
Net margin-95.9%-236.0%2.9%972.3%-6.9%-280.1%-43.5%52.6%
Current ratio1.19×4.37×0×66.69×130.97×0×197.79×185.67×
Debt / equity0.16×0.18×2.55×2.99×6.21×6.7×4.99×5.15×
Interest coverage-5.42×-6.38×0×-0.21×-0.01×-1.98×-0.68×1.13×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-33.7%-64.9%0.3%41.6%-1.6%-40.5%-14.6%16.8%
Return on invested capital-7.3%-0.7%0.0%-0.5%0.1%0.0%-1.5%2.1%
Return on assets-10.8%-6.9%0.0%6.5%-0.1%-3.3%-1.6%1.8%
Free cash flow yield-14.2%0.1%26.6%8.8%-17.5%-49.7%-31.4%-196.0%
Earnings yield-65.6%-93.7%0.5%65.4%-2.3%-61.6%-21.8%33.9%
Enterprise value$416.2M$696.9M$4.2B$4.5B$7.2B$7.9B$8.3B$8.9B
Net debt / EBITDA-1.22×-3.37×-181.97×-116.44×26.13×-45.08×19.3×13.06×
Cash conversion cycle (days)245507504-18,02920,1005,944-111,9771,849